Bitcoin falls 10 percent after SEC warns about unregulated exchanges

So in recent months, the SEC has stepped up its enforcement activities, shutting down the most obviously fraudulent ICOs and warning the public that stricter regulations were likely to follow later. Now the feds appear to be getting ready to rein in cryptocurrency exchanges, an important part of the ICO ecosystem that has, until now, operated largely outside of the law.

Source: arstechnica.com